carrier-lost.org

Much like setting up a shared folder on a Linux host and a Windows guest, you need to create the folder to share on your host system and add it to your shared folders list in Virtualbox. You also need a mountpoint inside your virtual system (in this case: /mnt/VirtualBoxExchange).
Mounting it is done with the command

mount -t vboxsf VirtualBoxExchange /mnt/VirtualBoxExchange

Done.

1. Create the folder on your host you like to share with the virtual machine (e.g. /home/pat/VirtualBoxExchange).
2. Add the shared folder to your virtual machine.

3. Open the command prompt on the windows machine (Start -> Run -> cmd.exe) and type

net use x: \\vboxsvr\VirtualBoxExchange

4. Have fun.